Current Affairs MCQs for UPSC & State PSC Exams (23 February 2023)

Current Affairs MCQs Quiz for UPSC, IAS, UPPSC/UPPCS, MPPSC. BPSC, RPSC & All State PSC Exams

Date: 23 February 2023

Q1. Consider the following Statements with regard to Textile Sector of India-

1. India holds a 20% share of the global textile and apparel market.
2. India is the second largest producer of silk.
3. India is the second largest producer of Technical Textiles.

Select the Incorrect Statement(s) using the code given below.

a) 1 and 2 only
b) 2 only
c) 1 and 3 only
d) 3 Only

Answer: (C)

Explanation:

  • India holds a 4% share of the U.S.$840 billion global textile and apparel market, and is in fifth position.
  • Therefore, statement 1 is NOT correct.
  • China is the world's single biggest producer and chief supplier of silk to the world markets. India is the world's second largest producer.
  • Thus, statement 2 is CORRECT.
  • India is the 6th largest producer of Technical Textiles.
  • The United States of America is the world's largest producer and consumer of technical textiles having 23% share followed by Western Europe having 22 % share, China having 13% and Japan having 7% share.
  • The share of India in the world technical textiles market is about 4-5%.

Hence, statement 3 is NOT correct.

Q2. The terms Debt Service Suspension Initiative (DSSI) and Common Framework (CF) frequently seen in the news are related to which of the following organizations?

a) IMF
b) WORLD BANK
c) G20
d) EUROPEAN UNION

Answer: (C)

Explanation:

  • The G20 in 2020 launched a Common Framework (CF) to deal with insolvency and protracted liquidity problems, and countries such as Zambia, Chad, and Ethiopia have applied to restructure their debt under the CF mechanism.
  • Under the Debt Service Suspension Initiative (DSSI) by G20, bilateral official creditors are, during a limited period, suspending debt service payments from the poorest countries (73 low- and lower-middle-income countries) that request the suspension.

Hence, G20 is the correct option.

Q3. Which of the following statements is/are correct regarding the Committee on Privileges?

1. The Committee is constituted to protect the rights, privileges, and immunities of Parliament and its members.
2. The Committee consists of 15 members in both Lok Sabha and Rajya Sabha.
3. The head of the Committee of Privileges in the Lok Sabha is nominated by the Deputy Speaker.
4. In the Rajya Sabha, the Deputy Chairman of the House heads the Committee of Privileges.

Choose the correct answer using the code given below:

a) 1 and 2 only
b) 1, 2, and 3 only
c) 1 and 4 only
d) 1, 2, 3, and 4

Answer: (C)

Explanation:

  • The Committee on Privileges is constituted to protect the rights, privileges, and immunities of Parliament and its members. Therefore, statement 1 is correct.
  • The Committee consists of 15 members in Lok Sabha and 10 members in Rajya Sabha. Therefore, statement 2 is incorrect.
  • In the Lok Sabha, the head of the Committee of Privileges is nominated by the Speaker, not the Deputy Speaker. Thus, statement 3 is incorrect.
  • In the Rajya Sabha, the Deputy Chairman of the House heads the Committee of Privileges. So, Statement 4 is correct.

Q4. Consider the following statements about Generalized System of Preferences (GSP)

1. The GSP was established by the US to provide preferential treatment to certain imports from developing countries.
2. This made Indian exports to the US more competitive and helped increase trade between the two countries.

Which of the statement/s given above is/are incorrect?

a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2

Answer: (D)

Explanation:

  • The GSP was established by the US to provide preferential treatment to certain imports from developing countries. Under this programme, eligible products from developing countries, including India, were exempt from tariffs when imported into the US. (Hence, option 1 is correct.)
  • This made Indian exports to the US more competitive and helped increase trade between the two countries. India was, in fact, the largest beneficiary of the GSP system (Hence, option 2 is correct).

Solution. As both the statements are correct, Hence the correct option is (d).

Q5. The term ‘NEW START’ recently seen in news is related to:

a) Treaty between the USA and the Russian Federation on Measures for the Further Reduction and Limitation of Strategic Offensive Arms.
b) Initiative by OPEC countries to reduce emission of CO2 in the region.
c) Treaty between USA and Russia to Prohibit the Use of Asphyxiating, Poisonous or Other Gases, and of Bacteriological Methods of Warfare.
d) The Agreement from all countries to reduce their emissions and work together to adapt to the impacts of climate change.

Answer: (A)

Explanation:

  • The name START comes from the original “Strategic Arms Reduction Treaty”, known as START-I, which was signed between the US and the erstwhile USSR in 1991, and came into force in 1994.
  • It is a treaty between the USA and the Russian Federation on Measures for the Further Reduction and Limitation of Strategic Offensive Arms. Option A is correct